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Village Farms International Applauds Texas Department of Health and Human Services Actions in Descheduling Hemp and Initiates Selective Breeding Program

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Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX: VFF) (NASDAQ: VFF) applauds the actions of the Texas Department of Health and Human Services in descheduling hemp, including its cannabinoids (except for delta-9 tetrahydrocannabinol (THC)) in compliance with the 2018 Farm Act and Texas law.  Under Texas law, the removal of hemp from the controlled substances schedule will be effective on April 5, 2019, 21 days after the schedule’s publication. Texas still must pass a hemp bill to enable the creation of a State Hemp Plan under the 2018 Farm Act and develop a thoughtful regulatory regime to support the hemp industry and protect consumers.

Village Farms plans to commence hemp cultivation in a portion of its Monahans, Texas, greenhouse operation upon a State Hemp Plan in Texas becoming effective, or earlier if permitted by Texas law.  In anticipation of the Texas legislation passing, Village Farms has begun design and development of the site-specific growing and technical systems to enable hemp production at the Monahans facility.

“The descheduling of hemp in Texas is a very encouraging step forward and we would like to publicly acknowledge the efforts of all those working in support of the full legalization of hemp in Texas with thanks in particular to lobbyist Susan Hays and the U.S. Hemp Roundtable,” said Michael DeGiglio, Chief Executive Officer, Village Farms. “We look forward to the opportunity to work with officials in Texas toward a roll out of hemp production, including the processing and sale of CBD products.”

Mr. DeGiglio added, “With the potential for passage of a hemp bill in Texas by the end of this coming May, we are readying a portion of our Monahans greenhouse to be able to commence production quickly upon legalization. Upon legalization, we also plan to initiate an outdoor hemp cultivation program in Texas through our joint venture Village Fields.”

Village Farms Initiates Genetics Testing and Trials to Support Large-Scale Commercial Outdoor and Greenhouse Hemp Production

Village Farms also announced that it has initiated a selective breeding program in tandem with genetic testing to support both its commercial scale indoor and outdoor hemp production programs.  The initiative aims to accelerate the development of true-to-type chemical varieties (chemovars), desirable cannabinoid characteristics including high CBD content and low THC levels at crop maturation that are compliant with federally mandated criteria, as well as developing new varieties suitable for specific climates with increased production yields.

Additionally, Village Farms’ joint venture, Village Fields, has reserved substantive quantities of seed to support the initiation of field cultivation as soon as legally permitted. As previously announced, Village Fields plans to have 500 to 1,000 acres in production during 2019.  Village Fields also plans to have extraction capabilities in place by the end of 2019 to enable it to begin supplying CBD oil on a wholesale basis while it commences production of branded CBD products for “big box” retailers in 2020. Village Fields intends to conduct its operations in locations where it is fully legal to do so on a federal and state level.

 

Cautionary Language

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements may relate to the Company’s future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, Pure Sunfarms, the greenhouse vegetable industry or the cannabis and hemp industries are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts.

Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, that may cause the Company’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company’s filings with U.S. and Canadian securities regulators, including as detailed in the Company’s annual information form and management’s discussion and analysis for the year-ended December 31, 2018.

When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release only relate to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

 

SOURCE: Village Farms International, Inc.

Blockchain

Leading Decentralized Investment Banking Group – Coinstreet Partners, Awarded Asia Futurist Leadership Award

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From left : Prof. Spencer Li - Independent Director of Coinstreet Partners, Ms. Eva Law - Founder and Chairman of the Association of Family Offices in Asia, Mr. Samson Lee - Founder and CEO of Coinstreet Partners, Mr. Chan Heng Fai - Chairman of Coinstreet Partners; at the Asia Futurist Leadership Award Gala.

 

The Asia Futurist Leadership Award in the category of High Flyer Award – Outstanding Deal Originator In Asia was awarded to Coinstreet Partners by the Association of Family Offices in Asia, the Association of Private Bankers in Greater China and the Women In Leadership Association at the Asia Futurist Leadership Summit, held in Hong Kong during International Financial Week.

Asia Futurist Leadership Awards (AFLA) recognize family offices, family enterprises, industry professionals, private banks, institutions, funds and new ventures around the world that are creating a positive environment, promoting sustainability and making social impact, ultimately contributing to the creation of a better world.

The Association of Family Offices in Asia, principal organizer of AFLA, is a professional society that distinctively connects single, multi and virtual family offices as well as the industry societies in the region. It currently has more than 9000 institutional associates and hundreds of single and multi-family office members, with investment net worth typically over USD50 million.

“Digital assets are one of the transformative forces shaping the new face of the financial service industry and the economy as a whole. We would like to see more prudent players and regulation to ensure this development heads in the right direction,” said Ms. Eva Law, Founder and Chairman of the Association of Family Offices in Asia. “We are very pleased to see Coinstreet Partners win this award and look forward to their continuous effort to make digital assets widely available, and bring value to investors and to economic development.”

“Congratulations to Coinstreet for winning the Asia Futurist Leadership High Flyer Award, it recognizes them as an outstanding deal originator in Asia, and their vision to crossover Finance, Media and Technology is an exciting future trend,.” said Ms. Mercedes Ho, Executive Director of Forbes Global Allianceand the presenter of the award.

Coinstreet is a leading decentralized investment banking group and consultancy firm in the F.M.T. (Finance, Media & Tech) field, providing a business eco-system for the new era of digital economy. Coinstreet focuses on five business segments: Token Finance Consultancy, Digital Asset & Wealth Management, PR Media & Investor Relations, Digital Asset Tokenization & Trading Platform, and Decentralized Finance & DLT Solutions.

“The Association of Family Offices in Asia is a highly respectable organization in traditional investment communities,” said Mr. Samson Lee, Founder and CEO of Coinstreet Partners. “We are very honored to be the recipient of the Asia Futurist Leadership Award. It represents a significant recognition of our efforts and vision of the convergence between the traditional financial eco-system and the digital assets system.”

According to a survey from the World Economic Forum, around 10% of global GDP will be tokenized and stored on Blockchain by 2027. Coinstreet serves clients with tokenization needs ranging from stablecoins, real estate, financial services, technology, biotech, healthcare, telecommunications, energy, manufacturing, hotel, hospitality, lifestyle, gaming, media and entertainment sectors. Significant growth in the number of high-quality STO projects and global expansion of investor communities is expected, as adaption of this new corporate finance model gains popularity globally.

 

SOURCE Coinstreet Partners

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Blockchain

Monerium and Algorand enter partnership to issue e-money on the Algorand protocol

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Photo source: effectivecooperation.org

 

Monerium (https://www.monerium.com/), the world’s first authorized provider of licensed e-money for blockchains, and Algorand Inc. (https://www.algorand.com/), the world’s first open source, permissionless, pure proof-of-stake blockchain protocol, announce a non-exclusive partnership to support the Algorand protocol in 2020 with Monerium’s fully programmable and redeemable e-money.

Mainstream adoption of blockchains requires a reliable form of digital cash on-chain. Since receiving its e-money license in June 2019, Monerium has announced several B2B use cases for e-money, including a cross-border transaction in euros. Monerium now supports e-money across the EU, IcelandNorway and Liechtenstein in US Dollars, Euros, British Pounds, and Icelandic krona.

Algorand recently benefited from a significant upgrade, Algorand 2.0, which includes a number of features that enable sophisticated exchanges such as account quarantine, whitelist models, flexible asset reserve models and more.

“We look forward to supporting the Algorand protocol. Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scaleable proof-of-stake consensus. The Algorand leadership has taken a pragmatic and deliberate approach in designing a blockchain for mainstream applications while staying close to the ethos of the open source community” states Sveinn Valfells, co-founder and CEO of Monerium. “Supporting new blockchains with mainstream relevance is a priority for Monerium.”

“Monerium and Algorand have a shared vision for real-world use cases that are enabled by advanced blockchain technology,” said W. Sean Ford, COO of Algorand, Inc. “We are thrilled that Monerium will be bringing their solution for e-money to Algorand and we look forward to our community’s ability to leverage the technology for straightforward regulatory compliance.”

 

SOURCE Algorand Foundation

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Blockchain

Kadena Launches Public Chain with Smart Contract Transactions, Completing Industry’s First Hybrid Blockchain

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Kadena, the first blockchain technology company to come out of JP Morgan’s Blockchain Center for Excellence, has announced the full launch of its public blockchain. Kadena’s public blockchain is first to market as a sharded Proof of Work Layer 1 network. Following the start of genesis mining in October 2019, Kadena has surpassed having two million blocks mined at hash rates as high as 40 TH/S. Today’s launch includes full transactions and the ability to write smart contracts. The latest functionalities of the network complete Kadena’s hybrid blockchain platform. Kadena is already delivering interoperability, scalability, and security across industries including financehealthcare, and insurance.

The hybrid blockchain supports interoperability using Pact, Kadena’s open-source, Turing-incomplete smart contract language with Formal Verification. The simple smart contract language is powerful enough to code complex contracts and execute multi-party transactions. Enterprises and developers alike will find that applications once considered too difficult to build are now achievable with Kadena. Removing the complexity and vulnerability of other smart contract languages, Pact advances secure and legible transactions.

“Despite blockchain having immense potential, our experience building JP Morgan’s first blockchain showed us its limitations,” said Founder and President Stuart Popejoy. “Launching a fully functional hybrid blockchain which seamlessly integrates a public chain with a private network is a significant step forward in reimagining what applications can do on-chain.”

Kadena’s public blockchain functions through a braided, parallelized Proof of Work consensus mechanism, the only protocol that has been validated in the market. The architecture enhances throughput and scalability while preserving the reliability of Bitcoin. Kadena Kuro, the platform’s next-generation private blockchain, overcomes the challenges of security, scalability, and speed found in existing blockchains such as Ethereum.

“We’ve solved the scaling challenges of Bitcoin with parallel Proof of Work chains while addressing the security issues of Ethereum with Pact,” said Founder and CEO Will Martino. “Today’s launch of our public blockchain with smart contract transactions, which completes our hybrid platform, advances mainstream adoption. We’re excited to see how Kadena’s blockchain will empower entrepreneurs and enterprises to bring in Economics 2.0.”

The launch comes after Kadena completed a year full of milestones in 2019, including the news that next-generation blockchain networks such as Cosmos and Polkadot are looking to implement the Pact smart contract language. Businesses exploring deployment of applications on blockchain were able to utilize the speed and security of Kadena Kuro when it got listed on AWS Marketplace and Azure Marketplace with free community editions.

 

SOURCE Kadena

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